FedEx (NYSE:FDX) Price Target Lowered to $297.00 at UBS Group

FedEx (NYSE:FDX) had its target price lowered by equities research analysts at UBS Group from $311.00 to $297.00 in a research report issued to clients and investors on Wednesday, MarketBeat reports. The firm currently has a “buy” rating on the shipping service provider’s stock. UBS Group’s target price would indicate a potential upside of 34.40% from the company’s previous close.

Other research analysts also recently issued research reports about the stock. Truist Financial dropped their target price on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Loop Capital lowered FedEx from a “hold” rating to a “sell” rating and dropped their target price for the company from $283.00 to $221.00 in a report on Friday, March 21st. Citigroup reduced their target price on shares of FedEx from $305.00 to $267.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of FedEx in a research report on Friday, March 7th. They set a “buy” rating and a $337.00 price target on the stock. Finally, Sanford C. Bernstein reduced their price objective on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating for the company in a research report on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $285.17.

FedEx Trading Down 0.5%

NYSE FDX opened at $220.99 on Wednesday. The firm has a market capitalization of $52.95 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.35. The business’s 50-day moving average price is $219.75 and its two-hundred day moving average price is $243.30. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.68. FedEx has a 12 month low of $194.30 and a 12 month high of $313.84.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating analysts’ consensus estimates of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same period in the prior year, the firm posted $5.41 EPS. On average, analysts expect that FedEx will post 19.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. AG2R LA Mondiale Gestion D Actifs bought a new position in shares of FedEx in the first quarter valued at approximately $2,153,000. Swedbank AB raised its position in shares of FedEx by 0.4% in the first quarter. Swedbank AB now owns 111,881 shares of the shipping service provider’s stock worth $27,274,000 after buying an additional 455 shares in the last quarter. Modern Wealth Management LLC boosted its stake in FedEx by 7.7% during the first quarter. Modern Wealth Management LLC now owns 1,898 shares of the shipping service provider’s stock valued at $463,000 after buying an additional 135 shares during the period. Strs Ohio bought a new position in FedEx in the 1st quarter worth about $64,242,000. Finally, Wealth Management Associates Inc. increased its position in shares of FedEx by 13.6% in the first quarter. Wealth Management Associates Inc. now owns 1,725 shares of the shipping service provider’s stock worth $421,000 after purchasing an additional 206 shares during the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Company Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.